Fruits and Vegetables Market size to increase by 917.55 million tonnes between 2022 to 2027, The growth of the vegetable segment will be significant during the forecast period, Technavio

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Mar 14, 2024, 06:48 ET

NEW YORK, March 14, 2024 /PRNewswire/ -- The fruits and vegetables market size is expected to grow by 917.55 million tonnes from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.39% during the forecast period. The market is segmented by Product (Vegetables and Fruits), product type (Fresh, Processed, and Frozen) and Geography (APAC, Europe, North America, South America, and Middle East and Africa). During the projected period, the vegetables segment is poised for significant market share expansion. This growth is fueled by the burgeoning global food industry and escalating consumer spending on fresh produce. Valued at USD 1,121.11 million in 2017 and maintaining an upward trajectory until 2021, the segment benefits from heightened demand, particularly from the expanding vegan demographic. Rich in essential nutrients, vegetables like tomatoes, cabbage, onions, beans, and carrots are pivotal for holistic human development. With an increasing emphasis on fresh and nutritious dietary choices, bolstered by rising disposable incomes and economic upturns in emerging economies, the vegetable segment is primed for substantial growth across retail channels, both offline and online.

Technavio has announced its latest market research report titled Global Fruits and Vegetables Market 2023-2027

Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format

Geographical Market Analysis

APAC will contribute 69% to the growth of the global market during the forecast period. The growing disposable income of the population in the region and growing awareness regarding the health benefits of the consumption of fresh fruits and vegetables drive the regional market growth. Furthermore, countries such as China and India are the largest markets in APAC. Additional factors including the increasing disposable income of the population, growing middle-class population, and rising awareness about the health benefits of fruits and vegetables will drive the demand for fruits and vegetables in India during the forecast period.

Key Companies
The fruits and vegetables market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
Batory Foods, BelOrta CV, Berry Gardens Ltd., Buhler AG, Dole Food Co. Inc., Driscolls Inc., Emona Co. Ltd., Fresgarrido SL, Fruitable Fresh sdn bhd, GEA Group AG, Global Fresh Trading Fze, Goknur Gida Merkez, Green Organic Vegetables Inc., Iceland Foods Ltd., J.R. Simplot Co., Keelings, Mirak Group, Naturipe Farms LLC, Tanimura and Antle Fresh Foods Inc.

View a PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Analyst Review

The fruit and vegetable ingredients market has been experiencing a significant surge in demand, primarily driven by the processed food industry's need for natural, healthy, and flavorful components. With consumers increasingly seeking clean-label products, the market for fruit and vegetable ingredients has seen substantial growth, particularly in the organic segment.

Thickening agents, stabilizers, and emulsifiers derived from fruits and vegetables play a vital role in enhancing the texture, shelf life, and overall quality of processed food and beverage products. From nutrition bars to beverages, these ingredients are integral to meeting consumer preferences for natural and healthy options.

Despite the growing demand, the industry faces several challenges. Stringent food safety regulations imposed by regional regulatory bodies necessitate compliance, adding complexity to product development and manufacturing processes. Additionally, concerns over health issues and the desire for non-GMO, chemical-free products have influenced consumer choices, leading to a preference for clean-label offerings devoid of artificial colors and flavors.

Infrastructural challenges in developing countries further complicate matters, along with saturated markets in developed economies. However, these challenges also present opportunities for tapping into untapped markets and attracting a new consumer base.

Innovations in packaging and transportation have helped address some of these challenges, making it easier to reach consumers even in remote areas. Moreover, advancements in consumer health awareness, coupled with busy lifestyles and rapid urbanization, have fueled the demand for natural and healthy food and beverage products.

The organic segment, in particular, stands out as the fastest-growing market, especially in established economies where disposable income levels are higher. Fruit ingredients, including fruit salads, juices, shakes, and dry powders, are among the most sought-after categories, catering to consumers' preference for convenience and nutritional value.

In emerging economies, such as those in South America, the demand for organic fruits and vegetables is on the rise, driven by busier urban households and modern retail outlets. However, challenges persist in terms of investment, supply chain management, storage of raw materials and finished goods, fluctuating raw material prices, and labor costs.

Despite these challenges, the fruit and vegetable ingredients market continues to thrive, fueled by the growing consumer preference for natural, healthy, and sustainable food options.

The sample report is available in PDF format

Market Overview

The Fruit & Vegetable Ingredients Market is experiencing exponential growth, spurred by the burgeoning demand for processed food across various sectors including the food & beverage industry and pharmaceuticals. Key drivers such as the need for food preservatives have fueled the demand for thickening agents, stabilizers, and emulsifiers, crucial components in food processing. These ingredients not only enhance texture and flavor but also prolong shelf life, meeting consumer preferences for convenience and freshness. Moreover, with increasing emphasis on healthy eating, the market for fruit and vegetable ingredients is witnessing a surge, catering to both the processed food industry and industrial applications like paper manufacturing. This trend underscores the versatile nature and widespread applications of fruit and vegetable ingredients in diverse sectors.

The sample report is available in PDF format

Related Reports:

The dried fruits market size is projected to increase by USD 1.64 billion between 2022 and 2027, and the growth momentum of the market is estimated to accelerate at a CAGR of 4.64%. In 2017, the size of the market was valued at USD 5.48 billion.

The kiwi fruits market share is expected to increase to USD 2.74 billion from 2021 to 2026, at a CAGR of 4.3%.

ToC:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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SOURCE Technavio